![[Img #74675]](https://thelatestnews.world/wp-content/uploads/2024/12/They-discover-a-new-class-of-X-ray-sources-in-the-150x150.jpg)
The French automaker experienced a better-than-expected performance in the third quarter of the year, thanks to an increase in sales driven by demand for its new cars.
The French automobile group Renault published its third quarter results on Thursday, in which it showed an increase in its revenue. His performance surprises and challenges the trend of weakness which is currently seen in the automotive industry throughout Europe.
The company produced revenues of 10.7 billion euros for the third quarter of the year, which meant an increase of 1.8% compared to the same period from the previous year. On the other hand, the sector’s income for the third quarter of 2024 amounted to 9.3 billion euros, -0.5% less compared with the same previous period. Regarding its annual accounts, the group’s income was 37.7 billion euros, which represented an increase of 0.8% compared to the third quarter of 2024, while the sector as a whole decreased by 1.5%.
This is largely due to growing demand for the company’s new range of vehicles, with models including the Symbioz, Scenic E-tech electric, Duster and Rafale. The Renault brand was the third most popular in Europe in the first nine months of the year, and also the most popular in France. It was also the most important light commercial vehicle brand in Europe. Sandero was the best-selling vehicle.
Renault launches a series of new models in 2024
Thierry Piéton, Chief Financial Officer (CFO) of Renault Group, stated: “Our third quarter revenue is starting to benefit from an unprecedented product launch, with 10 new ones this yearwhich represent 18% of our invoices during the quarter.
This trend will continue in the coming quarters in line with the gradual introduction of vehicles in their respective markets and will accelerate further with lThe seven new launches planned for 2025.
“This attractive and competitive range, with electric, internal combustion and hybrid vehicles, demonstrates our flexibility to adapt whatever the pace of the transition to electric vehicles and remains a key support for the Group’s performance along with the reduction of costs,” explained Piéton. “In this challenging environment, we are accelerating our deep transformation with committed teams, to improve our agility and build our next chapter.”
Renault Group also developed its financial outlook for the year as a whole, expecting an operational improvement of the group of 7.5%.
Add Comment